Document Security Systems: Tumbles on discounted stock offering

DSS

02/07/2020 13:55

** Shares of security solutions provider  DSS.A  down ~21%
at $6.39 cents premarket
    ** DSS after market hours on Wednesday priced offering of
1.02 mln shares at $6.25 per share, a 22.5% discount to stock's
last close
    ** The offering represents 50.3% of co's free float
 urn:newsml:reuters.com:*:nGNX91DGng 
    ** Co to use the proceeds of about $6.43 mln to fund growth
of new business lines, working capital and acquisition
opportunities 
    ** Aegis Capital Corp is the book-running manager for the
offering
    ** Up to Thursday's close, stock fell ~10% YTD

 (Reporting by Abhishek Manikandan in Bengaluru)
 ((Abhishek.Manikandan@thomsonreuters.com))